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Mountain Development Corp

| May 31, 2017 | 0 Comments

Mountain Development Corp. (MDC) is a full-service real estate company with over 30 years of experience developing, acquiring, constructing, repositioning, managing, leasing and operating commercial property. MDC is an active acquirer of a broad range of opportunistic and value-added real estate investments capable of generating attractive, risk-adjusted returns for both its principals and equity partners. Active throughout the Northeast, MDC’s accomplished staff includes in-house development, accounting, property management, construction, leasing and marketing professionals, enabling the company to operate autonomously and deliver expeditious, successful
results.

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Fact Sheet

Fact Sheet 2017
Mountain Development Corp.
Three Garret Mountain Plaza/Suite 400
Woodland Park, NJ 07424
www.mountaindevelopment.com 

COMPANY OVERVIEW

Mountain Development Corp. (MDC) is a full-service real estate company with over 30 years’ experience developing, acquiring, building, positioning, managing, leasing and financing commercial property. MDC is an active acquirer of a broad range of opportunistic and value-added real estate investments capable of generating attractive, risk-adjusted returns for both its principals and select partners. Active throughout the Northeast, MDC’s team includes in-house development, accounting, property management, construction, leasing and marketing professionals, enabling the company to operate autonomously and execute business plans for complex and varied projects.

SIGNIFICANCE AND SERVICES

Founded in 1979, MDC acquires, redevelops and manages commercial real estate properties with an eye towards the long term to create assets with enduring value. The company’s diverse six-million-square-foot portfolio features data centers; upscale office buildings; corporate parks, distribution and warehouse properties; enclosed shopping malls; laboratory space; showroom properties; and medical arts buildings. Throughout its history, MDC has attracted high-quality, hands-on experienced management professionals capable of evaluating and exploiting opportunities and making decisions to drive the best, long-term results. The firm’s culture stresses a collaborative and cooperative rapport with strategic partners, tenants and lenders. MDC has a long history of finding opportunistic acquisitions based on its profile in the markets in which it is active, its network of friends and associates throughout the region and its reputation for closing transactions on time and as negotiated. MDC was recognized by the New Jersey chapter of NAIOP as Developer of the Year in 1993 and 2006.

Portfolio Highlights:

Since its inception, MDC has built an diversified portfolio of properties and projects. Highlights include:

  • Garret Mountain (1, 3 and 5), Woodland Park N.J. This 400,000-square-foot three-building Class A office campus is located on 22 acres in a park-like setting surrounding its own private lake. Situated off a four-way interchange of I-80, it has excellent highway access and is a 20-minute drive from Midtown Manhattan. MDC developed the campus.
  • 56 at Roseland, Roseland, N.J. This 434,000-square-foot headquarters-quality office campus features state-of-the-art building systems, and on-site amenities including food service café/catering, a fitness center, an outdoor lounge area, a roof garden, a walking path, on-site security and a conference center. MDC negotiated new, long term leases with two highly regarded law firms, Lowenstein Sandler and Connell Foley as part of the building’s repositioning.
  • 100 Delawanna Avenue and 2PK, Clifton, N.J. MDC acquired 100 Delawanna Avenue, a 180,000-square-foot laboratory building, from Givaudan Roure and converted the property into a multi-tenanted data center. Following the conversion of 100 Delawanna Avenue, MDC developed companion property, 2PK, a 215,000-square-foot three-story data center as a build-to-suit for Digital Realty Trust (formerly Telx).
  • 41 Spring Street, New Providence, N.J. This 170,000-square-foot single-story Class A office property is within walking distance of NJ Transit’s Murray Hill station and in proximity to several major highways including Routes 78 and 24, the Garden State Parkway and the New Jersey Turnpike. Amenities include a newly renovated lobby; a remodeled fitness center with locker rooms; a full-service café; new electric car-charging stations; private business entrances; convenient parking; and an outdoor patio/seating area. MDC acquired the property from a European Pension Fund advisor.
  • Summit Medical Group (SMG), Berkeley Heights, N.J. MDC acquired the former 185,000-square-foot Dun & Bradstreet multi-building headquarters in Murray Hill (Berkeley Heights) and converted the property into SMG’s campus. MDC obtained the requisite approvals, led the redevelopment and design development process, arranged financing and built the project which has been publicly recognized for its excellence in design and patient care.
  • 20 Craig Road, Montvale, N.J. This 30,000-square-foot office building is set on three acres and includes a showroom, executive offices and a warehouse and distribution component. It is the US headquarters of Jura Inc., the Swiss-based coffee machine company.
  • 777 Passaic Avenue, Clifton, N.J. Situated directly off Route 3, this 77,240-square-foot Class A office building is in proximity to the Lincoln Tunnel, major highways and public transportation, and the Meadowlands Sports Complex. MDC acquired the property from a well-known REIT and brought it from 50 percent to full occupancy.
  • One Harmon Plaza, Secaucus, N.J. Located just minutes from Manhattan, this newly renovated Class A office building includes a new lobby, a café, a conference facility and a fitness center. Office suites offer dramatic views of both the Hackensack River and New York City skyline and can accommodate users from 1,400 to 44,000 square feet. MDC acquired the property when it was 40 percent leased and has nearly completed the full lease up of the building.
  • Bryant Park Studios, New York, N.Y. This turn-of-the-century 1901 building was designed in the Beaux-Arts style to originally serve as artists’ residences and working studios. The double-height ceilings, expansive northern light and views of Bryant Park make it ideal for today’s upscale fashion brands. Current and recent tenants include Alice + Olivia, Vince, Joie, Trina Turk, Rebecca Taylor, Theory, L’Agence among other leading, women’s brands.
  • One Waterview Drive, Shelton, Conn. This 94,800-square-foot office building is set on 14.8 acres and includes additional land for future development. Amenities include a newly renovated glass-atrium lobby, a café, and fitness center. MDC recently signed Tangoe, a global services provider, to become the property’s lead tenant.
  • Merritt 8, Stratford, Conn. A 180,000-square-foot Class A office property located immediately off the Merritt Parkway in Fairfield County. MDC recently completed a new lease with Yale New Haven Healthcare Systems, together with some of its affiliates, which consolidated many of their operations at the property.
  • Harbor Square, Stamford, Conn. Comprised of three office buildings totaling 250,000 square feet, this loft-style space offers spectacular water and city views, and a host of on-site amenities and conveniences in the City’s up-and-coming South End district.
  • Valley Forge Corporate Center, Norristown, Pa. A two-building, 117,880-square-foot office complex located in the desirable Montgomery County submarket with immediate access to Routes 202, 76 and 476. Tenants include PJM and United Healthcare Group.

Community Involvement

MDC and its employees are committed to improving the communities in which they live and work. Examples of the firm’s philanthropy include leadership positions with some of the most prominent institutions in its markets; longstanding philanthropic support together with support for local events, sponsoring the 4-Miler at Garrett Mountain, an annual local charity run that benefits St. Joseph’s Children’s Hospital. Additionally, individual employees are active in professional and industry groups.

Executive Leadership

Robert Lieb, Chairman, is a managing member in all the company’s affiliated projects. He founded MDC in 1979 having formerly practiced law in New York and New Jersey, and was founder/chairman of the board of the former NorCrown Bank. He received a bachelor’s degree from the University of Buffalo and his LL.B. degree from New York University School of Law. He also served as a First Lieutenant, USAFR, from 1966 to 1972. He is co-chairman of the Bryant Park Management Corp.

Michael Allen Seeve, President, is responsible for leading the firm’s activities and often is the firm’s representative in dealings with its lenders and partners. He is a trustee and vice chairman of the board of William Paterson University; a board member of the NJ Uniform Construction Code Advisory Board; and is trustee and past-president of NAIOP-NJ. He also is chairman of the Paterson Special Improvement District. Seeve earned his bachelor’s degree from the University of Pennsylvania.

William J. Martini Jr., Director of Acquisitions, joined MDC in 2002 and is responsible for the sourcing and analysis of potential property acquisitions, and remains active in the leasing and operations of the company’s existing portfolio. He received his bachelor’s degree from Georgetown University and has a certificate in real estate finance from N.Y.U. Professional Affiliations. He is a board member of NAIOP-NJ’s Legislative Affairs committee and a board member of Downtown New Jersey. Community involvement includes serving as president of the Alexander Hamilton Academy Foundation and a board member of the Montclair Kimberley Academy Alumni Council.

Irene Fitzgerald, Chief Financial Officer, is a financial professional with more than 20 years of experience in all facets of the real estate industry. She is responsible for all aspects of the accounting, taxation, human resources, information technology and financial reporting of MDC and its subsidiaries and joint ventures. A graduate of New Jersey City University, she serves on the real estate committee for the March of Dimes.

Michael Donohue, Director of Operations, is responsible for management of the company’s assets, including property management, leasing and third-party management. He also manages the due diligence for property acquisitions. A graduate of Pace University, he is actively involved with the Building Owners and Managers Association (BOMA) and NAIOP.

Joseph Coci III, Managing Director of Connecticut properties, oversees MDC’s Connecticut commercial property portfolio. In this capacity, he is responsible for real estate acquisitions and leasing and marketing efforts. He earned a bachelor’s degree from the University of Virginia, a J.D. from the University of Virginia School of Law and an LL.M. from New York University Graduate School of Law.

Chuck Breidenbach, Managing Direction of Retail Operations, supervises acquisitions, construction, management, leasing and operations of MDC retail properties. He earned a bachelor’s degree from the University of Florida.

Elizabeth Lieb, Vice President, helps manage MDC’s retail portfolio and IT operations. She is a member of ICSC, CREW-NJ (Commercial Real Estate Women) among other industry groups. She earned her bachelor’s degree in mathematics and computer science from Drew University.

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